VANCOUVER, BC, June 28, 2011 – Brixton Metals Corporation (TSX-V: BBB) (the “Company” or “Brixton”) is pleased to announce that a preliminary short form prospectus has been filed with and receipted by the regulatory authorities in the Provinces of British Columbia, Alberta and Ontario in connection with a commercially reasonable efforts offering of units (“Units”) and flow-through units (“Flow-Through Units”) of the Company (the “Offering”).The Offering will be led by Global Maxfin Capital Inc.
Each Unit will be comprised of one common share of the Company and one common share purchase warrant (a “Warrant”) and each Flow-Through Unit will be comprised of one common share to be issued on a “flow-through” basis and one-half of one Warrant also to be issued on a “flow-through” basis. Each Unit will be offered at ? price of $0.15 and each Flow-Through Unit will be offered at a price of $0.19.Each whole Warrant will be exercisable to acquire one common share of the Company for a period of 24 months from the closing date of the Offering at an exercise price of $0.25.
The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange and the securities regulatory authorities.
A preliminary short form prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary short form prospectus is still subject to completion or amendment. Copies of the preliminary short form prospectus may be obtained from Global Maxfin Capital Inc. c/o Carlos Vargas, Syndication, Global Maxfin Capital Inc., 181 University Ave., Suite 401, Toronto, ON, M5H 3M7, carlosv@globalfinancial.ca, telephone (647) 776-7235 or fax (416) 640-2993. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
About Brixton Metals
Brixton is a Vancouver based mineral exploration company engaged in the acquisition and exploration of precious metals assets. Brixton’s management is focused on advancing largescale deposits to feasibility. Brixton’s portfolio is comprised of two properties: Thorn (BC), and Kahilt (Alaska). The Kahilt District is the name Brixton has given to its lands within the Kahiltna Terrane, a 650 km long section of Alaska that was infused with copper and gold mineralization. The Kahiltna Terrane hosts the giant Pebble gold-copper deposit of Anglo-American and Northern Dynasty, the Whistler gold-copper deposit being developed by Kiska Metals, and Millrock Resources’ Estelle gold property being explored in joint venture with Teck American Incorporated. Brixton Metals trades on the TSX Venture Exchange under ticker symbol BBB. For more information about Brixton please visit our website at www.brixtonmetals.com.
On Behalf of the Board of Directors
Mr. Gary R. Thompson, Chairman and CEO
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation, statements about the closing of the Offering, the price of the Offering and the completion of the Offering on the terms set forth herein are forward looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.